Imports from China reach over $50 billion

Lao Cai Customs officials checked fruits imported from China. Photo: T.Bình

According to the General Department of Vietnam Customs, $6.464 billion was the import turnover of Vietnam from China in September.

This result contributed to bring the total import turnover of Vietnam’s cargo from China up to $55.428 billion in the first nine months of the year, increasing by over $8 billion, equivalent to 17.3% compared to the same period in 2018.

In September, there were many commodity groups imported from China with turnover of hundreds of millions of USD.

Especially, there were two groups achieving turnover of over $1 billion – that were machinery, equipment, tools, spare parts and computers, electronic products and components reaching $1.257 and $1.08 billion, respectively.

As of the end of September, there were 12 groups of commodity imported from China with turnovers of $1 billion or more.

In particular, the group of machines, equipment, tools and spare parts exceeded turnover of $10 billion, increasing by over 27% over the same period last year.

In 2018, Vietnam's total export turnover to China reached $41.268 billion, an increase of $5.864 billion compared to 2017, with a growth rate of 16.6%.

Meanwhile, the import turnover from China was $65.438 billion, increasing by $6.846 billion, equivalent to an increase of nearly 11.7%.

Thus, the total trade turnover of the two countries reached $106.706 billion, increasing by $12.71 billion compared to the previous year.

Last year, the Chinese market alone accounted for 22.23% of the country’s total import-export turnover.

With the scale of turnover and the current growth rate, in 2019, Vietnam-China trade was likely to continue exceeding beyond $100 billion.